Zoom Q2: Enterprise Revenue Accelerates to 7.8% Growth, FY27 EPS Guidance Raised
ZM sits 38% above its 52-week low of $70.7.
Summary
Zoom reported Q2 FY27 revenue of $1.28B (+4.9% YoY) with Enterprise revenue up 7.8% — its fastest growth in three years — and raised full-year non-GAAP EPS guidance to $6.08-$6.12.
Key Events · Earnings and Guidance · ZM
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Enterprise Revenue Accelerates to 7.8% Growth
Q2 Enterprise revenue reached $787.5M, up 7.8% YoY — the strongest growth rate in three years. Total revenue was $1,277.2M, up 4.9% YoY.
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FY27 Non-GAAP EPS Guidance Raised
Full-year non-GAAP EPS guidance increased to $6.08-$6.12, with Q3 guidance of $1.46-$1.48. Full-year revenue guided to $5.085B-$5.095B.
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GAAP Net Income Boosted by Non-Cash Investment Gain
GAAP net income of $1,542.4M ($5.15/share) included a $1.61B non-cash gain on strategic investments. Non-GAAP net income was $464.0M ($1.55/share).
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Buyback Program Continues Aggressively
Zoom repurchased 3.7M shares in Q2, bringing total repurchases under the current plan to 44.2M shares. Approximately $1.3B of authorization remains as of July 31, 2026.
Analysis · ZM · Technology
Zoom delivered its strongest Enterprise revenue growth in three years at 7.8% year-over-year, while total revenue grew 4.9% to $1.28 billion. The company raised full-year non-GAAP EPS guidance to $6.08-$6.12, up from prior expectations, and continued aggressive buybacks with 3.7 million shares repurchased in the quarter. GAAP net income of $1.54 billion was inflated by a $1.61 billion non-cash gain on strategic investments, so the $1.55 non-GAAP EPS is the cleaner read on operating performance. The quarter shows the enterprise pivot is working, but Online revenue growth remains sluggish at 0.6%.
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At the time of this filing, ZM was trading at $97.64 on NASDAQ in the Technology sector, with a market capitalization of approximately $29.6B. The 52-week trading range was $70.70 to $114.74. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.